North American Construction Group Ltd (NYSE:NOA) Sees Large Decline in Short Interest

North American Construction Group Ltd (NYSE:NOA) (TSE:NOA) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 327,400 shares, a decline of 26.2% from the December 15th total of 443,900 shares. Based on an average daily trading volume, of 96,900 shares, the days-to-cover ratio is currently 3.4 days. Currently, 1.4% of the company’s stock are sold short.

Shares of NOA stock opened at $11.55 on Tuesday. The stock’s 50 day simple moving average is $11.50 and its 200 day simple moving average is $11.32. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.83 and a current ratio of 1.00. North American Construction Group has a twelve month low of $9.75 and a twelve month high of $13.62. The company has a market capitalization of $324.93 million, a price-to-earnings ratio of 27.50 and a beta of 0.58.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.05. North American Construction Group had a return on equity of 23.52% and a net margin of 4.73%. The business had revenue of $126.01 million for the quarter, compared to the consensus estimate of $111.34 million. On average, analysts forecast that North American Construction Group will post 1.2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Saturday, November 30th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.04%. This is an increase from North American Construction Group’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, November 27th. North American Construction Group’s dividend payout ratio (DPR) is presently 28.57%.

Hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC bought a new position in shares of North American Construction Group in the 3rd quarter valued at approximately $121,000. Cavalier Investments LLC bought a new position in North American Construction Group in the 3rd quarter worth approximately $248,000. Marshall Wace North America L.P. bought a new position in North American Construction Group in the 2nd quarter worth approximately $263,000. Tranquility Partners LLC bought a new position in North American Construction Group in the 2nd quarter worth approximately $395,000. Finally, Navellier & Associates Inc bought a new position in North American Construction Group in the 3rd quarter worth approximately $459,000. 55.69% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the company. ValuEngine upgraded North American Construction Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 7th. Zacks Investment Research upgraded North American Construction Group from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, two have given a buy rating and three have issued a strong buy rating to the company. North American Construction Group currently has a consensus rating of “Buy” and an average price target of $14.00.

North American Construction Group Company Profile

North American Construction Group Ltd. engages in providing mining and heavy construction services. It offers their services to customers in the resource development and industrial construction sectors, primarily within Western Canada. The company focuses on supporting the construction and operation of surface mines, in the oil sands.

See Also: Cost of Debt

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